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Scoop Audio: John Key On The Economy Meeting
Scoop Audio: John Key On The Ministers' Economy Meeting
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Prime Minister John Key held a press conference this afternoon after a meeting with Ministers and officials on the economy.
Mr Key said current forecasts are on the down side of December projections, with a stagnant economy, rising unemployment and higher deficits - and a recently-announced risk to New Zealand's credit rating. Ministers discussed the best allocation of the planned stimulus package and other measure to increase business confidence such as local government reform.
The Prime Minister did not share any particular spending decisions made at the meeting today. He said projects where spending could begin soon would be favoured, and emphasised the need to avoid long-term deficit spending.
Other topics included the need for a positive outlook, as well as flags, recycling bins, shoe-tossing and declarations of personal interests.
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The Prime Minister discusses crown debt scenarios
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